If the protection of intellectual property rights were to be reduced, say by shortening patent terms, it is likely that:

Question

Quizplus · Accepted Answer

Shortening patent terms would increase competition, as more firms would have access to the technology. However, this would lead to a reduction in innovation, as firms would have less incentive to invest in research and development without the guarantee of strong intellectual property protection. Increasing funding for research and development projects may occur in the short term, but overall investment in these projects may decrease due to the reduced protection of intellectual property rights. Higher prices are unlikely to result from reduced intellectual property protection, as increased competition would keep prices in check.

If the Protection of Intellectual Property Rights Were to Be